Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

MSCI Emerging Markets Index / Technical Analysis

Asia is leading EM higher.  In this week's Chart Book, we highlight the following themes and actionable charts: <ul><li>Overweight Asia. In today’s report we highlight a broad array of actionable names within the Asia region ... see pages 3-6</li><li>Indian banks are breaking out. India’s state banks broke out last week in response to the government’s announcement of a $32.5 billion recapitalization plan. Actionable ideas: Punjab National Bank (532461-IN), State Bank of India (500112-IN), ICICI Bank (532174-IN)... see page 2</li><li>Leading Sectors. EM sectors exhibiting attractive relative strength trends include: consumer discretionary, energy, financials, health care, materials, and tech. This (mostly) cyclical line-up supports a risk-on outlook. When defensive sectors exhibit improving relative strength, then we’ll turn cautious on EM’s advance.</li></ul>

Asia is leading EM higher.  In this week's Chart Book, we highlight the following themes and actionable charts: Overweight Asia. In today’s report we highlight a broad array of actionable names within the Asia region ... see pages 3-6Indian banks are breaking out. India’s state banks broke out last week in response to the government’s announcement of a $32.5 billion recapitalization plan. Actionable ideas: Punjab National Bank (532461-IN), State Bank of India (500112-IN), ICICI Bank (532174-IN)... see page 2Leading Sectors. EM sectors exhibiting attractive relative strength trends include: consumer discretionary, energy, financials, health care, materials, and tech. This (mostly) cyclical line-up supports a risk-on outlook. When defensive sectors exhibit improving relative strength, then we’ll turn cautious on EM’s advance.

EM Technicals: Overweight Asia; Indian Banks Are Breaking Out; Bottom-Up Ideas

Global Head of Research, Smartkarma

Mark Artherton

Global Head of Research

LR Research

Thematic (Sector/Industry)

A rundown of the interesting items to come out over the past 24 hours and their impact on stocks, commodities, markets, and currencies.<div class="content-highlight">1. Infosys ( <a href="https://www.smartkarma.com/entities/267" target="_blank" data-smartkarma-citation="entities:267:1">Infosys Ltd (INFO IN)</a> ) cut guidance and the new board stamped their authority on the company clearing the severance pay to the ex CFO and the acquisition of Panaya.  Mixed bag for Infosys - something for the bulls and something for the bears.</div><div class="content-highlight">2. Freeport McMoran Inc ( <a href="https://www.smartkarma.com/entities/12491" target="_blank" data-smartkarma-citation="entities:12491:1">Freeport Mcmoran Inc (FCX US)</a> ) - staling discussions with the Indonesian…</div>

A rundown of the interesting items to come out over the past 24 hours and their impact on stocks, commodities, markets, and currencies.1. Infosys ( Infosys Ltd (INFO IN) ) cut guidance and the new board stamped their authority on the company clearing the severance pay to the ex CFO and the acquisition of Panaya.  Mixed bag for Infosys - something for the bulls and something for the bears.2. Freeport McMoran Inc ( Freeport Mcmoran Inc (FCX US) ) - staling discussions with the Indonesian…

India - Politics, Industrials, IT and Large Caps, EMAlpha

Pankaj Sharma

India - Politics, Industrials, IT and Large Caps

Equity Bottom-Up

<h2>
<a href="https://www.smartkarma.com/entities/2499" target="_blank" data-smartkarma-citation="entities:2499:1">Larsen &amp; Toubro Ltd (LT IN)</a> is up more than 7% in two days</h2>After moving in a very tight range for almost four weeks, <a href="https://www.smartkarma.com/entities/2499" target="_blank" data-smartkarma-citation="entities:2499:1">Larsen &amp; Toubro Ltd (LT IN)</a> or L&amp;T is up more than 7% in just two days. There have been two primary reasons for this, a) Massive recapitalization plan for PSU (Government owned) banks announced by Ministry of Finance worth more than US$ 30 billion which is expected to revive capex in the country, b) Huge road construction plan of Ministry of Road Transport &amp; Highways worth more…


Larsen &amp; Toubro Ltd (LT IN) is up more than 7% in two daysAfter moving in a very tight range for almost four weeks, Larsen &amp; Toubro Ltd (LT IN) or L&amp;T is up more than 7% in just two days. There have been two primary reasons for this, a) Massive recapitalization plan for PSU (Government owned) banks announced by Ministry of Finance worth more than US$ 30 billion which is expected to revive capex in the country, b) Huge road construction plan of Ministry of Road Transport &amp; Highways worth more…

Larsen & Toubro: Is 'Bharatmala' Really that Big or Is It the Time to Book Profits?

Specialist in Indian Banking and Economic Research

Hemindra Hazari

Even in the rowdy game of football, two yellow cards result in dismissal from the field of play. Indian banking, though, adheres to lower standards. For two consecutive years, Axis Bank has been exposed by the regulator for mis-reporting in its financial statements; yet the bank’s board of directors has allowed the same chief executive officer (CEO), chief financial officer (CFO) and auditor to continue in their posts. Apparently, the banking regulator has a high tolerance for banks disregarding its instructions and under-reporting non-performing assets, as to date no action has been taken against the concerned individuals at Axis Bank. Even normally docile analysts could be heard openly questioning the management during the 2QFY2018 results conference call on the numbers reported by the bank; one implied whether the bank might score a hat-trick in misreporting its financials for FY2018 as well. With such a dismal track record, analyzing the bank’s results becomes meaningless.

Even in the rowdy game of football, two yellow cards result in dismissal from the field of play. Indian banking, though, adheres to lower standards. For two consecutive years, Axis Bank has been exposed by the regulator for mis-reporting in its financial statements; yet the bank’s board of directors has allowed the same chief executive officer (CEO), chief financial officer (CFO) and auditor to continue in their posts. Apparently, the banking regulator has a high tolerance for banks disregarding its instructions and under-reporting non-performing assets, as to date no action has been taken against the concerned individuals at Axis Bank. Even normally docile analysts could be heard openly questioning the management during the 2QFY2018 results conference call on the numbers reported by the bank; one implied whether the bank might score a hat-trick in misreporting its financials for FY2018 as well. With such a dismal track record, analyzing the bank’s results becomes meaningless.

Axis Bank's Nose Grows and Grows and Grows

Macro & Asian equity Technical Strategies, BBSP Asia

Federico D'Inca

Macro & Asian equity Technical Strategies

BBSP Asia

Mid Term Country Allocation (Tactical view) in terms of Relative Value vs MXAPWhat's new from last week • Although ASX remains within its 3-month range (below 5775) the ratio ASX/MXAP drifted to key support for an expected bounce reaction. Therefore, giving bias for ASX to shape a bullish exit from its range and outperform MXAP. (ref new AU strategies). • Rating unchanged for the rest of the countries. Outperformance in progress for Japan (Nikkei), Korea (Kospi) and HK, China (HSI, HSCEI). Still…

Mid Term Country Allocation (Tactical view) in terms of Relative Value vs MXAPWhat's new from last week • Although ASX remains within its 3-month range (below 5775) the ratio ASX/MXAP drifted to key support for an expected bounce reaction. Therefore, giving bias for ASX to shape a bullish exit from its range and outperform MXAP. (ref new AU strategies). • Rating unchanged for the rest of the countries. Outperformance in progress for Japan (Nikkei), Korea (Kospi) and HK, China (HSI, HSCEI). Still…

Equity Asia Weekly Research - 11 Oct 2017

India

State Bank of India provides a wide range of banking and financial services to corporate, institutional, commercial, agricultural, industrial and individual customers throughout India.  The Bank also provides international banking to its Indian customers and has operations in other countries.

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State Bank Of India (SBIN IN)

EM Technicals: Overweight Asia; Indian Banks Are Breaking Out; Bottom-Up Ideas

Asia is leading EM higher. In this week's Chart Book, we highlight the following themes and actionable charts: Overweight Asia. In today’s...

Vermilion Research

21 Things Worth Knowing Today

A rundown of the interesting items to come out over the past 24 hours and their impact on stocks, commodities, markets, and currencies.1. Infosys (...

Mark Artherton

Larsen & Toubro: Is 'Bharatmala' Really that Big or Is It the Time to Book Profits?

Larsen & Toubro Ltd (LT IN) is up more than 7% in two daysAfter moving in a very tight range for almost four weeks, Larsen & Toubro Ltd...

Pankaj Sharma

Axis Bank's Nose Grows and Grows and Grows

Even in the rowdy game of football, two yellow cards result in dismissal from the field of play. Indian banking, though, adheres to lower...

Hemindra Hazari

Equity Asia Weekly Research - 11 Oct 2017

Mid Term Country Allocation (Tactical view) in terms of Relative Value vs MXAPWhat's new from last week• Although ASX remains within its 3-month...

BBSP Asia

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